In 1990, Monmouth College dedicated the Wells Theatre portico and plaza to Gracie Peterson for her countless contributions to the music department for fifty years. When asked about her thoughts on the dedication ceremony, the 88 year-old Peterson was quoted: "When they pour the cement for the Gracie Peterson Plaza, I'm going to go down there and put my hand in it like they do in Hollywood. I know darn well I can get down, but I don't think I can get up. I just hope there's a handsome young man to come to this lady's distress to help me get up." In her honor, Monmouth College students and faculty directed and performed a variety show called, "We love Gracie."